What Does The Covid Vaccine Mean For The Real Estate Market?
January 18, 2021
January 18, 2021
The Covid-19 vaccine is already being distributed, and it is expected to be widely available by late summer. This means that many analysts are expecting housing prices to increase along with demand around the same time. Make sure that your property is ready for walkthroughs and is sale ready by then.
The Covid-19 vaccine is now out on the market. Both Pfizer and Moderna have vaccines that have been scientifically proven to have strong effectiveness at reducing the spread of the disease. Most market analysts believe that this news is fundamentally bullish for the market. They expect buyer interest to increase and for housing prices to be driven even higher. This is great news for prospective sellers, but it also means that their homes need to be ready to be showcased. That means handling repairs and improving curb appeal in anticipation of a frenzied spring and summer market.
The Covid-19 Vaccine Is Expected To Be Widely Distributed By Summer 2021
Covid-19 has created difficult conditions for all businesses and industries. The real estate market hasn’t taken it as hard as others, but there is still evidence that more homes would be selling if the pandemic wasn’t going on. With the vaccine expected to be widely distributed across the country by the summer of 2021, many expect that market conditions will change for the better. This brings us to our next point.
The Vaccine Is Expected To Increase Demand Everywhere
The vaccine’s distribution is expected to increase demand just about everywhere. That means in almost every industry you can think of. Consumers in general will have more confidence in their purchasing power since their jobs will likely be more secure. And buyers who were stuck inside with legitimate health concerns will return to the market. With more people traveling, shopping, and spending money, there will likely be a decrease in unemployment and an increase in equities and real estate prices. Sellers need to be prepared for this frenzy.
You Still Want To Make Sure That Your Property Stands Out
The increase in demand that we talked about in the last paragraph is great for sellers. But it also means that there will be increased competition. You will need to put the effort in to make sure that your property really stands out. That means working on repairs and renovations. It also means increasing the curb appeal of your home by working on the yard and the front porch and exterior windows. If you don’t handle those renovations, you may find that prospective buyers show less interest in your home when the market is hot during the spring and summer months. You want to put yourself in the best possible position to succeed and get the value that you feel you deserve. Make sure your property stands out.
There will be a lot of homeowners who decide when to sell their property based on when the vaccine has been distributed to their community. If you want to sell your home on your timeline, then you are in luck. You can still sell your property to 4 Brothers Buy Houses. 4 Brothers Buy Houses will purchase your home for cash, and you don’t need to make any repairs or renovations. Get the cash offer that you want, and make the decision when it is best for you. Give us a call today and we can provide you with a free, no-obligation quote.